2006 Taxes

[wheelsup]

It seems almost everyone here uses TT. Has anyone had any experience with H&R Block's program? I've used TT for the last two returns but wondered how H&R Block compares...

 

[Strakes]

Been using H&R's taxcut for 8 years. Cheaper initial program cost, great program...plus it comes with a free copy of Microsoft Money if you buy it early enough. I like the way it goes through the ridiculously complicated tax code to make sure you get your full return back.

 

[kingaira90]

Used both

I used TT for 6-7 years and H&R taxcut last year. Just to see the difference and I think I got a will program for free with it. I think they are about the same, both easy. I was 1099 for a few years, basically self employed. And the basic or delux worked fine, didn't need to do the business one. Cool to hear TT reworked their stuff, looks like I will go back to them this year.

PS: I had an accountant, a lawyer and a financial planner tell me to never file a return before 4-15 to have the best shot at avoiding an audit. They said the IRS does so many audits a year. They pull "random" returns that meet certian criteria (so many small businesses, so many that took this or that deduction etc), until they fill the number they want. So they can and do fill their number before 4-15 gets here. Also if they are picking 10 returns each day, and in feb they get 25000 returns a day, and on 4-15 they get 25,000,000 your chances of getting snaged go up drastically if you file early.

I personally have my return done early, but I don't push the button to file til 4-15.

 

[skybert]

I've used turo tax for 6 years now. You don't need to go out and buy the software,just go online and do it right from their site!! It was 27 bucks including tax for both state and federal.

 

[NHflyer]

I've been using TT since '98 and find it works very well. I always used an accountant prior and found it was no harder to enter the data into TT then put together the info for him. Of course here in NH we don't need the state tax part of the program since we don't have one on income!

Hi!

About 15 years ago I went to a tax accountant, because my situation was kind of complicated. I was asking her about how to figure depriciation, etc. She told me she didn't know how to do it, she just put the numbers into the software program.

Lightbulb! Why am I paying this accountant $150+ when I can buy a software program for $50 or less.

I started using TT the next year. It is very nice how it autoloads everything from last year. ALso, if you use Quicken to do your checkbook, it'll autoload everything pertinent from Quicken into TT.

Be advised! This year, the TT format has changed! It is about 10 times better than it has ever been (the format has basically been unchanged for the last 10 years or so). It is now VERY easy to move around in the program when you have to go back in and change/add things.

When you buy at least TT Deluxe, the state tax download (1 per program) comes free also.

Good luck!

Cliff
ABY

PS-The Bush tax cuts are for the rich. If U are "middle class" and you think you have gotten tax cuts, just wait until you get into the AMT (Alternative Minimum Tax). You'll get screwed!

Don't know about that, I've never paid the AMT and my taxes have gone down...sorry

 

[atpcliff]

Hi!

I was reading an article in Bus Week? Fortune? Forbes?, something like that.

They said by 2010 virtually every return with an gross income of 100K or more will be paying AMT.

Cliff
PSM